RUSSIA: loss portfolio of RNRC amounted to RUB 4.3 billion in 2018

The Russian National Reinsurance Company published its report on the loss portfolio for 2018, according to which the losses in 2018 amounted to RUB 4.3 billion.

The loss portfolio includes reserves for claimed losses and payments. Total number of claimed losses in 2018 increased by almost 2.5 times, and the number of insurers and brokers settling losses with RNRC, also went up (from 65 to 168), the reinsurer reported.

The portfolio has become more diversified, with the largest shares taken by the reserves of claimed losses and payments under reinsurance contracts of legal entities, cargo and aerospace risks. According to Vladislav TIMOFEEV, the head of the Department on loss settlement at RNRC, the most complex and serious losses were caused by human errors.

The full report on the loss portfolio for 2018 can be found here (in Russian only).